Business
Italy - Factors to watch on June 24
Italy - Factors to watch on June 24
About this update from Saipem S.p.a.
The following factors could affect Italian markets on Tuesday.Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).For a complete list of diary events in Italy please click on .POLITICSItaly will comply with a new NATO spending target of 5% of gross domestic product on defence and security, Prime Minister Giorgia Meloni said on Monday, but it will take 10 years to do so and wants changes to EU budget rules in order to make it possible.DEBTTreasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on June 27.COMPANIESMEDIOBANCA MIL:MBThe Milanese bank will present a set of financial targets to 2028 on June 27, adding two years to its current financial projections, to give investors a clearer picture to compare with Monte dei Paschi's takeover offer, the bank said on Monday.MONTE DEI PASCHI MIL:BMPS, MEDIOBANCA MIL:MBThe European Central Bank has cleared the Tuscan bank's proposed acquisition of rival Mediobanca, a source with knowledge of the matter told Reuters, as a raft of takeover bids reshape Italian finance.(*) MONTE DEI PASCHI MIL:BMPS, UNICREDIT MIL:UCGThe European Commission is examining the Italian government's sale of shares in Monte dei Paschi last year, following claims that large investors - including UniCredit MIL:UCG, Norway's oil fund and BlackRock - were shut out of the bidding process, the Financial Times reported on Tuesday.(*) ENI MIL:ENI Italy's antitrust authority said on Tuesday it had imposed fines totalling more than 32 million euros ($37.18 million) on energy company Eni MIL:ENI and its unit Novamont for abuse of dominant position in the production of plastic bags.(*) POSTE ITALIANE MIL:PSTJefferies on Tuesday cut the rating of the Italian postal service to 'hold' from 'buy' and raised the target price to 18.40 euros from 18 euros.(*) SAIPEM MIL:SPM, ENI MIL:ENIThe Italian oilfield services company said on Tuesday it had won a contract worth some 155 million euros ($180.08 million) from Enilive, the biofuel company of energy firm Eni, for engineering, procurement, and construction (EPC) activities at Enilive's biorefinery in Porto Marghera, near Venice.(*) PRYSMIAN MIL:PRYDeutsche Bank said on Tuesday it had begun coverage of the world's largest cable maker, with a 'buy' rating and a target price of 67 euros.SAFILO MIL:SFLThe Italian eyewear ...